The New York City Council adopted Resolution 0947-2025, granting a real property tax exemption for property located at Block 811, Lot 1 in Queens, New York. This exemption is approved under Section 577 of the Private Housing Finance Law for a housing project whose owner is a duly organized housing development fund company. The exemption applies to the entire value of the land and improvements (excluding non-community facility business or commercial uses) and commences upon the 'Effective Date' for a period of up to forty years. The exemption is subject to termination if the Housing Preservation and Development (HPD) determines non-compliance with the Private Housing Finance Law or the associated Regulatory Agreement. The owner, identified as 19-80 Steinway Housing Development Fund Corporation and 19-80 Steinway LLC, waives other potential tax exemptions in exchange for this benefit. The resolution was passed by the City Council on June 11, 2025.